Women hold 5% of board seats in publicly listed Canadian MJ firms

While women are marginalized in executive positions in many business sectors, the numbers in Canada’s cannabis industry are even lower by comparison.

The Canadian Press reported that women make up 12% of high-level positions in the 677 companies listed on the Toronto Stock Exchange. By contrast, only 5% of the board seats at publicly traded marijuana companies are held by women.

According to the Canadian Press, MJ advocates and executives said the lack of women is an issue the cannabis industry will have to confront as it evolves into a more mainstream sector.

What’s the issue? According to the new agency, some industry observers contend the dearth of women reflects the fact the top marijuana executives and directors often hail from male-dominated businesses such as venture capital, investment banking and mining.

“In the startup and finance sectors you’ve got this bro vibe going on,” Lisa Campbell, the co-founder of Elle Collective, a business incubator for women in the marijuana industry, told the Canadian Press. “We find that it is kind of an old boys club in a way, even though it’s a very new industry.”